Debt Advisory

Debt financing is a sensitive matter and requires competent advice from experienced partners at your side. Our experts have a large network on the capital markets and know how to respond to the expectations of the various interest groups.

Debt financing

There are any number of reasons why financing advice could become necessary: new investments required, acquisition financing, a change among the shareholder base, or a refinancing of existing credit lines. We offer you optimal support in the process of structuring, tendering, and negotiating complex financing transactions, and thereby give you significant negotiating advantages in a competitive environment.

Restructuring of liabilities

We have far-reaching experience in advising private businesses, public businesses, partnerships, investors and other stakeholder groups in complex and difficult financial situations. The goal of our restructuring plans is always value maximization for our clients.
We developed expertise in each of these scenarios and have sourced significant capital from senior banking markets and capital-based subordinated debt markets. Our strength is the sound understanding and management of expectations of the various stakeholders (partners, management, priority investors, mezzanine investors, customers, suppliers, employees) and the balance of different interests inside and among these groups. This is an integral part of every restructuring process.

Medium-sized loans / Promissory notes

While over 80% of the credit volume in the United States flows through capital market transactions, in Europe banks still maintain a leading role. Nevertheless, a thriving market for medium-sized loans and promissory notes has developed, a market which can offer financing for a wide variety of risk classes and maturities. We would be more than happy to assist you in the structuring and implementation of these transactions.

Our professional scope of services

Our services for private capital raising transactions typically involve:

Developing the Financial Model:
This analysis is a comprehensive assessment of the business. It includes sales and profitability, material and labor costs, current debt structure, current capitalization and future needs. It is the basic information needed by the private capital markets to evaluate investment potential and to set terms and pricing.

Designing the Capital Structure:
Our daily activity in the private debt and equity markets provides us with a broad knowledge of institutional lender criteria, availability of funds and pricing. We use this information to determine the amount and type of capital that is required to meet the needs of our clients.

Preparing a Placement Memorandum:
The placement memorandum paints an accurate picture of a business, its financial needs, the competitive environment and future opportunities. It then delivers a compelling rationale for investing in the firm, highlighting the potential for superior long-term return on investment.

Targeting Institutional Investors and Lenders:
Finding capital markets that want to finance a particular industry is the most direct route to closing a transaction. Our network allows us to connect our clients with markets that are ready, willing and able to provide the capital required.

Creating the Issuer Presentation:
Cowen will take the lead in helping you create an effective presentation that maintains interest and addresses the issues that lenders and investors find most important.

Benchmarking:
Private investor and lender placements are typically exempt from public disclosure. So how do you find out if you are getting appropriate/attractive terms and pricing for your company? Cowen benchmarks the proposals received against our library of transactions that contains the terms and pricing of private capital placements from around the world.